RaceTrac Extends Bidding for 29-Store RaceWay Sale
ATLANTA — RaceTrac Petroleum Inc. extended the bid deadline on the sale of 29 of its RaceWay convenience stores by two weeks.
The bid deadline, originally set to expire Sept. 15, will now conclude Sept. 29 at 3 p.m. Central Time.
The 29 properties are located in eight states: Alabama, Arkansas, Florida, Georgia, Mississippi, South Carolina, Tennessee and Texas. Twenty-two of the properties are currently operating, while seven of the locations are closed.
All the properties are offered without fuel supply and are fee-owned. The lots range in size from approximately 15,200 square feet to 3.9 acres.
RaceWay retained NRC Realty & Capital Advisors LLC to conduct the sealed bid sale. As CSNews Online previously reported, the stores were placed for sale because they no longer fit RaceWay’s business model, stated NRC.
“This sale provides an excellent opportunity for operators currently in these markets, as well as those looking to enter them," said Dennis Ruben, executive managing director of NRC. "Given the sites are being sold without fuel supply, they may be of particular interest to jobbers. And, given the large parcel sizes, this creates a unique opportunity for a real-estate play as well."
The sealed bid sale, first announced in July, initially involved 30 sites. However, on Aug. 25, the c-store located at 1005 N. Beach St. in Fort Worth, Texas, was removed from the sale.
Atlanta-based RaceWay, a division of RaceTrac Petroleum Inc., has more than 300 stores in 12 Southeastern states.